Wednesday, March 16, 2011

Governor Palin, the Success of ACES, and the Defeat of Corruption--Part II

One of Governor Palin's key pieces of legislation--Alaska's Clear and Equitable Share (ACES), legislation outlining a tax structure for oil companies-- has come under attack from Alaskan politicians, oil companies, and the press as a means of undermining Governor Palin's gubernatorial legacy. Over a series of posts, we will highlight the foundation and principles on which ACES was developed, the success in oil development the legislation brought, and the players involved in attacking Governor Palin's cornerstone pieces of legislation. The first post in this series, which discussed the anti-corruption, pro-growth principles that molded the legislation and the transparent process in which it was passed, can be found here. This second post in the series will highlight the success of ACES since its passage more than three years ago.

With the signing of this bill, we can turn the page and look forward to a new era of stability and investment opportunities developing Alaska’s resources, creating new jobs and a strong economy for years to come.

More than three years following the passage of this bill, Governor Palin's assertions regarding ACES have come to fruition. ACES has created a stable environment for investment and development of oil and has provided a boost to Alaskan jobs and the economy, while concurrently boosting state revenue. In short, ACES has been a success.

When Governor Palin signed ACES into law, she asserted that this legislation would provide stability, spur investment and development, strengthen the economy, and create jobs. By all accounts, Governor Palin's assertions ring true, and her detractors must eat crow once again.